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India’s Cloud Market to hit $7 bn by 2022: Nasscom

The report also draws attention to a few challenges to the growth of Cloud market in India such as data security and lack of Internet infrastructure specially in tier-2 and rural markets of the country

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IT corridor, india-china
The new corridor will facilitate partnerships between Indian and Chinese firms as part of Nasscom's efforts to evangelise IT development in newer geographies. Pixabay

With increased adoption of futuristic technologies such as Artificial Intelligence (AI) and Machine Learning (ML), the Cloud market in India is poised to grow three-fold to $7.1 billion by 2022, according to a Nasscom report on Tuesday.

In 2018, Cloud spending stood at approximately 6 per cent of the total IT spending, according to the report prepared in collaboration with Google Cloud and Deloitte Touche Tohmatsu India LLP.

“India’s Cloud computing market is poised for growth and the technology is increasingly being embraced across businesses as well as consumers,” Debjani Ghosh, President, Nasscom, said in a statement.

Newly appointed Nasscom Chairman- Rishad Premji.

Globally, the Cloud spending on IT is growing at 16.5 per cent and is expected to touch $345 billion by 2022, said the report titled “Cloud — Next Wave of Growth in India”.

The report highlights that Cloud spending is propelled by factors such as increased awareness of Cloud, consumerisation of IT, proliferation of start-up ecosystem, diverse landscape of supplier ecosystem, rising investments in infrastructure, talent, strategic partnerships and the impetus from key digital-led government programmes.

Also Read- NASA Wants Humans To Reach Mars By 2033

Futuristic technologies such as AI and ML are aiding in the seamless adoption of software as a service (SaaS), infrastructure as a service (IaaS) and platform as a service (PaaS) offerings, giving a boost to the Cloud market.

The report also draws attention to a few challenges to the growth of Cloud market in India such as data security and lack of Internet infrastructure specially in tier-2 and rural markets of the country. (IANS)

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Panasonic Boosts Smart Factory Business in India

Panasonic also plans to open a technical centre for its smart factory solutions which will act as a strategic base that validates smart factories with customers and be used as a training centre

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Panasonic also launches mobile computing devices in India. Flickr

Targeting Rs.1,000 crore in revenue in India from its Smart Factory solutions in the next three years, Japanese electronics major Panasonic has announced it has integrated its welding business and SMT (Surface Mount Technology) equipment business into one Smart Manufacturing Solutions company.

The smart factory solutions proposition will enable Panasonic to deliver high value-added smart solutions and services along with world-class hardware to the manufacturing industry, the company said in a statement late on Wednesday.

The company targets to achieve Rs 1,000 crore in revenue from its smart factory business in the next three years in India, with solutions and digital manufacturing expected to contribute 15 per cent to the total smart factory business revenue.

“India is adopting new-age technologies such as 5G, IoT, AI and others at a rapid pace and we will only see more investment in these technologies as we move forward,” said Hiroyuki Aota, President and CEO, Global Panasonic Smart Factory Solutions.

“To be able to cater to these growing demands, having the right and smart capabilities in manufacturing will be key, and this is what we are addressing today,” he added.

The smart factory solutions mean integrated line management system (ILNB), automated process tracker, digital reporting system and more.

panasonic
Panasonic. IANS

Panasonic’s recently introduced solution ILNB can communicate with the entire line of machinery and can automate up to 70-80 per cent of manual processes.

The digital reporting system allows real-time access to information, helping build agility and overall transparency of systems.

Also Read- Apple Accused of Fraud for Hiding Dop in iPhone Sales: Report

“The key technology to realise a Smart Factory is to connect various equipments through the Internet of Things (IoT), synchronize them and collect and control data in real time for entire production processes,” said Manish Sharma, President & CEO Panasonic India.

Panasonic also plans to open a technical centre for its smart factory solutions which will act as a strategic base that validates smart factories with customers and be used as a training centre. (IANS)